Business

Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire investor Bill Ackman, who made a killing this year by nailing the market bottom, on Monday disclosed plans for an initial public offering of a $4 billion blank-check company, which will target so-called “Mature Unicorns.” The new investment vehicle named Pershing Square

Virgin Galactic’s spacecraft outside Spaceport America in New Mexico. Virgin Galactic Shares of Virgin Galactic shares jumped Monday after it signed an agreement with NASA that will allow the space tourism venture to train astronauts for trips to the International Space Station on flights to the edge of space. The company — which is publicly traded

The “Fearless Girl” statue stands outside the New York Stock Exchange (NYSE) in New York, U.S., on Friday, June 12, 2020. Jeenah Moon | Bloomberg | Getty Images U.S. stock futures fell on Sunday night following a solid weekly performance on Wall Street amid lingering concerns about the coronavirus outbreak.  Dow Jones Industrial Average futures

Texas grocer Central Market turned salad bars and hot bars into packaged food displays during the pandemic. Source: Central Market Grocery stores have shut down self-serve salad bars during the pandemic. They’ve taken away displays of fresh olives and dips. And they’ve replaced giant kettles of ready-to-ladle hot soup with sealed to-go containers. The deli

Senator Ron Wyden, a Democrat from Oregon and ranking member of the Senate Finance Committee, speaks during a hearing in Washington, D.C., U.S., on June 9 about unemployment insurance during the Covid-19 pandemic. Leah Millis/Reuters/Bloomberg via Getty Images The enhanced unemployment benefits supporting household income for millions of jobless Americans will soon lapse. Lawmakers, scrambling

The U.S reported some 30,000 new coronavirus cases on Friday, the highest number of daily infections recorded since May 1, according to data compiled by Johns Hopkins University. New cases across the country are surging faster than ever, especially in states in the South, West and Midwest. Officials are warning that some clusters of infections

Traders wearing masks work inside posts, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. Brendan McDermid | Reuters Bluster about bubbles is blowing through Wall Street again, stirring

“Theater Closed” signs are posted in front of the AMC Montebello, as the US chain of AMC movie theaters closes for 6 to 12 weeks, On March 17, 2020 in Montebello, California, as the coronavirus (covid-19) epidemic leads to restaurant and school closures and workers working from home in an effort to encourage social distancing.

Robinhood is making it more difficult to get access to its options offering in the wake of a customer’s suicide last week.  In a blog post Friday, Robinhood’s co-CEOs outlined multiple changes to the free-trading app. Robinhood will increase eligibility requirements, and “consider additional criteria” for customers for level three options authorization “to help ensure

Kayenta Health Center staff prepare to practice with a new shield that just arrived to help protect medical workers when they intubate patients, in Kayenta, Ariz. Carolyn Kaster | AP Arizona and Florida reported record spikes in confirmed Covid-19 cases on Friday as states continue their phased reopening and ramping up testing. The Arizona Department

Wirecard, once hailed as the darling of Germany’s financial technology scene, is now facing a fight for survival amid scrutiny into its accounting practices. The payments processor said Thursday, for the fourth time, that it couldn’t publish its financials for 2019. Auditors at EY couldn’t account for 1.9 billion euros ($2.1 billion) of cash on

A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California. Getty Images Hertz shares tumbled about 10% Thursday after the company said it plans to terminate a controversial stock sale. Earlier in the day, trading in Hertz shares were halted, awaiting the announcement. 

Source: Robinhood On the small yellow sticky note that 20-year-old Alex Kearns left on his bedroom door was an ominous message saying to turn on the computer. Daniel Kearns powered up his son’s laptop in their home in Naperville, Ilinois. Within seconds, a four-paragraph letter flashed on the screen. “If you’re reading this, then I

Hertz has suspended its plan to sell up to $500 million in shares after the Securities and Exchange Commission voiced concern about the deal and launched a review. Trading of Hertz stock had been halted for several hours before resuming shortly before 3:30 p.m. ET. Once trading resumed, shares were volatile, jumping double digits before closing

An Institutional Investor Hall of Famer sees more trouble lurking in the market. Richard Bernstein warns unprecedented Federal Reserve policies may eventually cause serious harm. He cites near record deficits and aggressive efforts to increase the money supply among the biggest problems. “I’m surprised that people aren’t more concerned about what huge monetary growth means

President Donald Trump points toward the crowd during a “Keep America Great” campaign rally at BancorpSouth Arena on November 1, 2019 in Tupelo, Mississippi. Brandon Dill | Getty Images White House coronavirus advisor Dr. Anthony Fauci as well as other health officials are raising concerns that President Donald Trump’s upcoming campaign rally in Tulsa will

U.S. stock futures moved lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 180 points, indicating a loss of 0.7% at the open on Wednesday. The S&P 500 and Nasdaq-100 were also set to